Getting Started With PropReports

Thank you for choosing PropReports, a turnkey, trade data reporting solution for proprietary trading firms and broker-dealers worldwide.

We pride ourselves on maintaining successful, long-term business relationships with our clients. If you have any questions, suggestions or require assistance, please don't hesitate to contact us at support@propreports.com.

For monthly pricing, please see FAQ #7 on Owners FAQs.

Step 1: Paperwork and Deposit

The first requirement in securing the PropReports service is to execute the Barshay License Agreement, and to make the initial deposit. Please request these documents from support@propreports.com.

Step 2: Obtaining Your Data

We typically configure your installation to receive trading activity from your execution platform and then reconcile it against the fills and positions that your clearing firm has reported.

PropReports is able to import data from most execution platforms (e.g. Sterling, Laser), clearing firms (e.g. Wedbush, ETC) and other back office vendors. Supported data includes: trades, cash movements, market data, locates and positions (for reconciliation).

If your vendor is one we currently support, we most likely will be able to contact them on your behalf and coordinate your data transfer. If not, we will need to work with you in order to establish authorization. Please let us know the following:

Execution platforms and clearing firms you use, as well as the business name or personal identity registered with them.
If you would like us to import historic trade data, please specify a starting date. If the date specified is not the first day of trading, we will need to gather all opening position and cost information.
Which instruments and markets you trade (e.g. US Equities, Canadian Equities, Options, Futures, F/X).

Please ensure you have obtained all necessary third-party authorizations to receive your data.

Step 3: Setting up Your Trade Fees

Trade Fees
PropReports can assess and aggregate trade fees of your user's executions. By default, there are eleven categories:

Commission
Exchange (ECN) Fee
Clearing Fee
NSCC
SEC
TAF
Miscellaneous
ORF
NFA
Access Fee
CAT Fee

These fees can be either imported with the trading activity, manually entered or automatically assessed via a fee schedule formula. During the initial few months of service, clients generally work with our support team to set up and update trade fee plans. Please let us know which initial plans in each of the fee categories above you would like to appear in your instance and we will create them for you.

While our customer support team is happy to assist you with making changes to your fee schedules, please note that PropReports does not maintain clients' fee schedules. Every client has the responsibility of knowing what the appropriate fee schedules are for their firm.

Recurring Fees
Indirect trading costs such as data charges, dividends, or interest can be assessed by attaching a recurring fee plan to an account. Please let us know which initial plans your firm requires and our support team will create them for you.

Please click the following link for more information on how to manually set a recurring fee.

Step 4: Granting Access to Your Traders and Managers

PropReports differentiates accounts from users. Trading activity is uploaded to an account while the access to view one or more accounts can be granted to a user.

Accounts
New accounts can be created manually or automatically when data is uploaded. Please see the creating a new account page for more information.

Users
There are three user roles in PropReports with varying levels of access: superusers, managers, and users. For information on each role, please visit the user roles support page.

For steps on how to create a new trader login or a new superuser login, please visit their designated support pages.

Step 5: Customizing PropReports

Branding
We can white label your PropReports instance using your company’s logo, creating a professional and secure experience for each of your clients. Please send a copy of your firm's logo to us at support@propreports.com with your request.

Branches
Your default PropReports instance consists of a single (or primary) branch, however, an unlimited number of branches can be subsequently created if you have more than one trading division that requires separate branding (e.g. franchises, independent groups or satellite offices).

A branch cannot have different fee plans than what is assigned to the accounts on the primary instance. If alternative trade fee plans are needed for the same account activity, contact PropReports Support for information on an additional database instance.

Additional Instances
If your firm requires more than one instance, please contact us at support@propreports.com to review pricing and details.